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Part IV. Items of General Interest Notice of Proposed Rulemaking Qualified Severance of a Trust for Generation-Skipping Transfer GST Tax Purposes REG 145987 03 AGENCY Internal Revenue Service IRS Treasury. Rules in 26. 2601 1 b 4 will continue to apply to severances and other actions post 2000 severance of a trust created after September 25 1985 will be governed regulations. III. Reporting Requirements a qualified severance is to be reported by f.

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